Stablecoin Wins Big Profit While Audits Get Underway

Tether, the world’s largest stable‑coin issuer, reported a $1.04 billion profit for the first quarter of 2026, despite a market marked by fluctuating crypto prices.

Record‑High Reserves

• Total reserves: ~$192 billion
• Reserve cushion: $8.23 billion – the highest ever disclosed
• U.S. Treasury holdings: ~$141 billion (awaiting full audit confirmation)
• Other assets: $20 billion in physical gold and ~$7 billion in Bitcoin

These figures position Tether as one of the world’s largest holders of U.S. government debt.

Audit Status

• Current audit: Third‑party verification based on company statements
• Planned full audit: KPMG will conduct the first comprehensive review in 2026 as Tether expands its U.S. presence

Profit Context

• Q1 2026 profit: $1.04 billion
• Previous year’s profit: Similar level
• 2024 peak profit: $4.52 billion (during high Bitcoin and gold prices)

Regulatory Milestones

• Stable‑coin issuance is now legal in the United States, a significant win for Tether.
• The company launched a new token that complies with U.S. regulatory requirements.